Since 1990-91, the province has run deficits 20 out of 27 years.
debt and deficit
When oil prices were high, successive governments spent freely as though the good times would never end.
The Ontario government plans to spend more than $190 billion on public infrastructure.
The Notley government overshot its budgeted spending levels by $2 billion in 2016/17 and $1 billion in 2017/18.
Contrary to government claims, Ontario’s auditor general says the province’s deficit is $11.7 billion.
Ontario and Alberta are projecting budget deficits for years to come.
Between now and 2022/23, Alberta’s per-person debt is projected to grow by 157 per cent.
Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
Canada’s federal net debt will climb to $831.5 billion by 2022-23.
The budget proposes cumulative deficits totalling $72.8 billion over the government’s first mandate.